BUA CEMENT AN OVERVIEW OF AN ULTRAMODERN CEMENT

BUA CEMENT AN OVERVIEW OF AN ULTRA-MODERN CEMENT COMPANY

Our Corporate Philosophy VISION To be a world class conglomerate spreading across Africa and beyond MISSION To providing high quality products and services with a focus on total quality management

ABOUT BUA CEMENT BUA Cement was incorporated in 2008 and commenced operations in the same year through its floating cement terminals, 'BUA Cement 1', designed specifically for bulk and bag cement unloading. In 2009 BUA Group acquired the Cement Company of Northern Nigeria, CCNN (Sokoto Cement) and the Edo Cement Company to boost and increase the metric tonnes of annual cement production in the country. At the second quarters of 2015, BUA signed a contract with FLSmidth for a 3 million mtpa new production line in Edo Cement to be sited at Obu, Edo state. The world-class plant would give a much needed boost to Nigeria's cement industry as well as enhance the development of related sectors, including housing and construction. In 2018, BUA Obu Cement completed a 3 million mtpa plant resulting in a combined capacity at Okpella of 6 million mtpa. Same year, the CCNN commenced 1. 5 million mtpa plant expansion project to further boost the capacity of cement in Nigeria. The $600 million Cement Plant in Okpella, Edo State was opened in 2015 with a capacity of 3 million mtpa resulting in a 3. 5 million mtpa combined installed capacity at both Edo and Obu plants. Asides from the initial costs, over $100 million was invested in gas turbines to power a 50 -megawatt plant for 24 -hour electricity generation as well as the construction of a 30 km gas supply pipeline. In 2020, BUA Group consolidated its cement operations and listed BUA Cement Plc on the Nigerian Stock Exchange with a total combined installed capacity of 8 million mtpa and a market capitalization of N 1. 18 trillon (US$3. 3 bn), making it the second largest cement producer in the Nigerian market and the largest cement producer in the North Western region of the country.

1 BUA (OBU) CEMENT COMPLEX (LINES 1 & 2) Location Production Capacity Completion Date Okpella, Edo State Line 1 – 3 mpta, Line 2 – 3 mtpa 2015 (South-South Nigeria) BUA Cement Plant (Obu (Lines 1 & 2) BUA (Obu) Cement Line 1 2018 BUA (Obu) Cement Line 2 BUA CEMENT FACTORY OKPELLA. EDO STATE

2 CCNN – KALAMBAINA CEMENT COMPLEX Location Production Capacity Completion Date Kalabaina, Sokoto Old Line – 500, 000 mtpa New Line 1 – 1. 5 mtpa New Line 2 – 3 mtpa (to come on Stream In 2021 2017 (North-West. Nigeria) CCNN-Kalambaina Cement Plant CCNN-KALAMBAINA CEMENT PLANT KALAMBAINA, SOKOTO STATE

Board of Directors

Executive Management Team ABDUL SAMAD RABIU CHIMAOBI MADUKWE KABIRU RABIU FINN ARNOLDSEN ENGR. YUSUF BINJI Billionaire industrialist and philanthropist, Abdul Samad Rabiu, is the Executive Chairman/CEO of BUA Group – a company he founded in 1988 and has become one of Nigeria's largest privately owned foods and infrastructure conglomerate with diversified investments spanning key business sectors of the Nigerian economy. Mr. Kenneth Chimaobi Madukwe is the Group Chief Operating Officer. He holds a Master's degree in Business Administration from ESUTH Business School and a Bachelor's Degree in Management Studies (Accountancy) from University of Jos. Before joining BUA Group in 2004, Finn is the Group Chief Operating Officer, Cement. He joined the BUA Group in 2009 as the Commercial Director and as Executive Board member in Cement Company of Northern Nigeria Plc. He was the previous Managing Director for Edo Cement Ltd in 2012. Engr Yusuf Haliru Binji the Managing Director of BUA Cement is a Chemical Engineer with degrees from Ahmadu Bello University and the University College, London. Engr Yusuf Binji is a Fellow of the Nigerian Society of Engineers, the Solar Energy Society of Nigeria and the Nigerian Society of Chemical Engineers. Under Abdul Samad's astute leadership, BUA has grown steadily over the years to entrench itself as a leading player with holdings in cement, sugar, rice, flour milling and pasta (though both recently divested in January 2016), edible oils, logistics, agriculture, fertilizer production, steel and real estate. With a firmly established reputation for innovation, BUA Group is one of the largest contributors to Nigeria's GDP and among its largest employers of labour. He was Head of Corporate Finance in the Citizens International Bank Plc where he worked from 1999 to 2004. He also worked as a consultant at PBTG Consulting between January and June 1999. He sits on the board of BUA International Limited, BUA Sugar Refinery Limited and Cement Company of Northern Nigeria Plc. With about 15 years of management experience in the commodities sector and working in large conglomerates, Kabiru Rabiu is the Group Executive Director for BUA Group – one of Nigeria's largest foods, mining and infrastructure conglomerates. Prior to his appointment as Group Executive Director, BUA Group, Kabiru held various management positions at Nigeria Oil Mills where he left as General Manager in November 2008 to become the Managing Director at the newly incorporated BUA Oil Mills – a position he held until his appointment as Group Executive Director, BUA Group in 2010. Executive Chairman/CEO Director With an MBA in International Business from the American Intercontinental University, UK; Kabiru also holds a Bachelor's degree in Management from Webster University, London. Kabiru Rabiu has attended various courses on Corporate Strategy, Finance, M&A, Risk Management, etc at top schools across the world including the prestigious Harvard Business School and The London School of Economics and Political Science. Director Finn holds a Master Degree in Combustion Engineering from NTH, Norway in 1977. His entire working career has been in the Cement Industry and mainly within the Africa Continent. He started in 1985 in Ghana as the Work Manager for Heidelberg Cement (Scancem International Ltd. ) and continued the next 25 years in various managerial positions within the Cement sector. MD/CEO He started his career in the cement industry with CCNN working across various departments before he rose through the ranks to become an Executive Director, Technical. He later joined BUA where he held various positions as Executive Director, Cement Projects/Technical within the Group from 2013 to 2014 and Executive Director, Technical, BUA Obu Cement Company from 2014 to 2017. He was Managing Director, Obu Cement Company in 2017 before moving to Cement Company of Northern Nigeria as the Managing Director in 2018. In 2020, he was announced as the MD/Chief Executive of BUA Cement, the new entity from the merger of Obu Cement and CCNN.

Executive Management Team contd. CHIKEZIE AJAERO AHMED ABUBAKAR IDRIS MOHAMMED BELLO MINJIBIR ADEDEJI TAIWO OMOTAYO NASIRU LADAN BASHIR Chikezie is a seasoned accountant with MBA from the prestigious University of Lagos. He is also an Fellow of the Institute of Chartered Accountants of Nigeria and over 26 years post degree experience in financial reporting and controls. Ahmed Idris was born in February, 1965 in Dogon Dawa of Birnin Gwari Local Government of Kaduna Stae. He graduated with a degree in Chemical Engineering from the prestigious Ahmadu Bello University Zaria. He is a Corporate Member of the Nigerian Society of Engineers. Mohammed was born in 1973 in Minjibir, Kano State. He holds degrees in Business Administration from Ahmadu Bello University (ABU) Zaria and Cardiff Business School (CARBS) University of Wales United Kingdom. Adedeji is a professional HR Practitioner with over two decades of HR practice. He started his career with Shell Petroleum Development Company (SPDC) on the 18 th of February, 1988 and advanced through the ranks. In 2009, he left SPDC in his dual role as HR Business Partner/SPDC Contract Holder for all Service Contracts. Nasiru holds MBAs from the University of Port Harcourt (2013) and University of Lagos (Transport Management and Planning - 2007). ACTING CHIEF FINANCE OFFICER He was the Financial Controller with BUA Flour/Pasta (2012 - 2015) and later assumed the role of a General Manager (Finance) in 1004 Estate Limited and UAC Restaurants (subsidiaries of UAC Nigeria Plc), Cuurrently, Chikezie is the Acting General Manager, Finance, BUA Cement, a role he assumed 2015 till date. PLANT DIRECTOR Ahmed Abubakar Idris started his career as a Trainee Engineer with the defunct Cement Company of Northern Nigeria Plc in 1992 and steadily rose through the ranks to the position of Technical Director in 2013, a position he held till he resigned in 2015. In 2018, he served as the Commissioning Director in then CCNN for its newly constructed 2 MTA production line and was subsequently transferred to Obucement plant in Okpella where he continued to work as Plant Director from 2018 till date GM, DIRECTOR Mohammed is an Affiliate Member Chartered Institute of Logistics and Transport (CILT), an Associate Member of Nigeria Institute of Management (NIM) and a Student Member Chartered Institute of Stockbrokers (CIS). He has attended several courses within Nigeria. Mohammed Bello Minjibir started his career as a Management Consultant with Ahmed Zakari & Co (Chartered Accountants) in 2003. He later joined Dangote Industries Limited, Transport Division in 2004 as Procurement Manager (Imports). While in Dangote, he rose through the ranks holding various positions to become a Group General Manager in charge of Dangote Cement Transport Ibese in 2012. He joined BUA in 2015 as the pioneer General Manager Transport with 800 trucks at the moment. GM, HUMAN RESOURCES He had a four year stint (Sept 2009 – April, 2013) with Leaps & Bounds Partners Ltd and returned to HR practice in May, 2013 as Senior Manager, Employee Relations in Frigoglass Industries Nig Ltd. He joined BUA Group in May 2016 as General Manager, Human Resources, BUA OBU Cement Company Nigeria Limited, Edo State, the role he currently occupies. He is trained both locally and internationally. Educationally, he studied B. Sc. Business Administration and MBA from University of Lagos. Omotayo is also a fellow and member of relevant professional bodies in Nigeria and abroad – CIPM (Fellow), NITAD (Fellow), NIM (Full member), SHRM (Professional Member), etc. GM, SALES & MARKETING He started his career as with Continental Shpyard Ltd, Apapa and moved on to become and Operations Officer with Nigerian Ports Authority in 2001. He had a 2 years stint with Ethical Group of Companies, Abuja in 2006 and then moved on to become an Operations Manager with BUA Cement, Lagos/Port Harcourt in 2008. Nasiru had risen through the rank and advanced to become the General Manager, BUA Cement, Port Harcourt before capping it with his current role as the General Manager, Sales & Marketing, BUA Cement (Obu) in Okpella. He is a member of Nigeria Institute of Management and Chartered Member, Chartered Institute of Logistics & Transport.

BUA Cement Structure

BUA CEMENT – OBU LINES 1 & 2 Completion 6 Million About 100 High Capacity Location Line 1 – 2015 Line 2 - 2018 Metric tonnes Installed capacity Megawatts Power plant Multi-fuel cement plant Okpella, Edo State South-South, Nigeria

BUA CEMENT – SOKOTO LINE 1 Completion 500, 000 32 MW High Capacity Location Old Line 1967 Metric tonnes Installed capacity Captive Power plant Coal mill, multi-fuel Cement plant Kalambaina, Sokoto State North-West, Nigeria

BUA CEMENT – SOKOTO LINE 2 & 3 Completion Line 2 Line 3 32 MW High Capacity Location New Line 1 – 2019 New Line 2 – 2021 (upcoming) 1. 5 Million metric tonnes Installed capacity 3. 0 Million metric tonnes Installed capacity Captive Power plant Coal mill, multi-fuel Cement plant Kalambaina, Sokoto State North-West, Nigeria

Financial Highlights BUA Cement, Obu Plant (Formerly Obu Cement)

Financial Highlights contd. BUA Cement, Sokoto Plant (Formerly CCNN)

Financial Highlights contd.

Strategy & Market Outlook 2020

Nigeria Strategy for 2020 Potential Sales increase in 2020 FG focus on Infrastructure Our Business Focus Perceived Quick Wins • Early passage of 2020 budget by the Federal Government • Flood repairs on roads and buildings as well as new building projects • Increase export sales • Increase domestic consumption due to housing deficit • Road Tax Initiative by the Federal Government • Focus on infrastructural development by the government • Increase Capital Expenditure in budget • Recognition of concrete roads • Best Quality in the market • Quicker time to market of our products • Improved yield for the block makers • Increase market awareness • Improve plants combined enlarged synergy • Service combined northern and southern market with increased distribution • Increase depot locations across the country • Continuous engagement of block makers 12 3 4

Nigeria Market Outlook 2020 1 2 3 4 5 Positive market outlook based on early signing of the 2020 Federal Government Budget Net positive effect of the signing of the Africa Continental Free Trade Agreement (AFCTA) making trade between countries easier The new tax finance bill set to encourage business growth especially for small and medium scale enterprises which will boost consumption CBN's recent mix of heterodox policy actions will not only ease cost of rolling over government borrowings but will also stimulate domestic private sector investments Currency Stability likely due to the strong will of the Government to keep defending the Naira and reasonable stable oil prices.

Cement in View 2020 1. Increasing call for alternatives to road as a means of transportation as well as housing deficit of c. 17 million continues to give rise for growth in the cement sector 2. The National Integrated Infrastructure Master Plan (NIIMP) estimates a huge sum of $3 trn required over a period of 30 years to bridge the infrastructural gap in Nigeria 3. The Federal Government has a high affinity to continue to allow part of its budget to capital expenditure to drive infrastructural growth such as roads, dams, bridges and rails etc 4. The Nigerian Cement industry remains a growth story medium to long term as Nigeria still has a very low cement consumption per capital in Nigeria of 150 kg compared to global average of 561 kg 5. Central Bank expansionary monetary stance, will bolster increase in real estate and construction activities which will support increase in demand for cement 6. The Africa Trade Continental Agreement (AFCTA) will improve ease of export and growth of Nigerian cement businesses into neighboring countries.

About BUA CEMENT BUA Cement is a leading cement manufacturer in West Africa with its HQ in Nigeria and plants in Sokoto, North West Nigeria and Obu, Edo State in Southern Nigeria. The company was listed on the Nigerian Stock Exchange in January 2020, following the merger of the Cement Company of Northern Nigeria and BUA’s Obu Cement Company. BUA Cement currently has an installed capacity of 8 million Metric Tonnes per annum which should increase to 11 million mtpa by the end of 2020. Visit www. buacement. com for more information.

About BUA GROUP BUA Group is a leading Foods, Infrastructure, Mining and Manufacturing conglomerate in Nigeria with diversified investments spanning key business sectors of the Nigerian economy. Established in 1988 by founder and industrialist, Abdul Samad Rabiu, BUA Group has steadily grown over the years to entrench its place as a leading player with holdings in cement, steel, sugar, agribusiness, real estate, rice, flour milling, edible oils as well as port operations. With its key operations spread across Nigeria and an international presence in London, BUA Group has firmly established a reputation for innovation and is one of the largest contributors to Nigeria's GDP.

Thank You for Your Time www. buacement. com 5 th Floor, BUA Towers PC 32, Churchgate Street Victoria Island, Lagos, Nigeria Email: Info@buagroup. com